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Legal Forms of Companies

The Corporation is a joint-stock company.

Number of partners: Minimum 5 shareholders, at least 3 shareholders must be Philippine.
Capital (max/min): PHP 5,000.
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Shareholders and liability: Liability is limited to the amount contributed.

Sole Partnership is a single-member company

Number of partners: Only 1 person
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is unlimited.

General Partnership

Number of partners: Minimum 2 partners
Capital (max/min): PHP 3,000.
Shareholders and liability: Liability is unlimited.

Limited Partnership

Number of partners: Minimum 2 partners
Capital (max/min): PHP 3,000.
Shareholders and liability: Liability is limited to the amount contributed.

Business Setup Procedures

Source: Doing Business - Latest available data.